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henry blodgett joins us from new york city. good to see you as always. >> thanks for having me. >> and obviously this is a stock that people have tremendous profits in, so to the extend they want to take advantage of lower capital gains, that makes more sense. more fundamentally, they're in sort of a product hold here. they bakley came out with everything in the last few months, we're going to go through this period where they probably won't have anything exciting to announce for a while, now the television has been delayed unit next fall, according to gene muenster. then growth is slowing, and more importantly the margin is likely to compress. that's the big thing that worries me. they're going to go to a lower marge margin of mix products. it's hard to see stocks rise in the face of a compressing market. you have downside protection unless the thing completely falls apart. so i think the valuation is actually help 68 here. >> if apple has a disappointing season, where does the stock go? >> i don't know. i think it would certa
henry blodgett joins us from new york city. good to see you as always. >> thanks for having me. >> and obviously this is a stock that people have tremendous profits in, so to the extend they want to take advantage of lower capital gains, that makes more sense. more fundamentally, they're in sort of a product hold here. they bakley came out with everything in the last few months, we're going to go through this period where they probably won't have anything exciting to announce for a...
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Dec 5, 2012
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citi is one of the names we're overweight. it's a shame for the folks who have lost their job, but it's a nice move today. >> 7.5%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the session right now with about 50 minutes left. the dow up 124 points. >> pretty good move. if you can own only one stock in 2013, which one would make you the most money? top fund managers were asked that question. we have their answers. we have names coming up. stay with us. >> get pencil to paper. >>> also ahead, the art of negotiation. we're going to hear from somebody who says a deal on the fiscal cliff could have already been reached if only lawmakers took a page out of wall street's deal making strategy of keeping things behind closed doors. where have we heard that before? >>> plus, secretary tim geithner with us exclusively. will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy i
citi is one of the names we're overweight. it's a shame for the folks who have lost their job, but it's a nice move today. >> 7.5%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the session right now with about 50 minutes left. the dow up 124 points. >> pretty good move. if you can own only one stock in 2013, which one would make you the most money? top fund managers...
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Dec 5, 2012
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today we have a small refinery in texas city. so we really did in the play in this what we believe market dynamic will be a competitive advantage against the central gulf. we have a very large refinery in the central gulf. this made sense and will really balance our refining capacity with approximately one-third in the midwest, one-third in the one gulf and now the other one-third being in gariville, louisiana. >> one beauty of master limited partnerships, the income they kick off. what happens if we go over the fiscal cliff. number two, are you going to issue a giant one-time special dividend or move up your dividend ahead of the new year? >> well, if you go back and look at the mlp, yes, that's been a great catalyst again for our share price this year, both in mplx, as well as mpc. as we see mpc going forward, we expect to be able to balance both mplx, we have a large stable of assets that are eligible earnings that could be dropped in down the road. and then as we look at, to your question on a special dividend or something he
today we have a small refinery in texas city. so we really did in the play in this what we believe market dynamic will be a competitive advantage against the central gulf. we have a very large refinery in the central gulf. this made sense and will really balance our refining capacity with approximately one-third in the midwest, one-third in the one gulf and now the other one-third being in gariville, louisiana. >> one beauty of master limited partnerships, the income they kick off. what...
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Dec 5, 2012
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! [ticking] >> when steve jobs returned to apple in 1997, the company had just 5% of the computer market and was almost broke. when jobs died of cancer 14 years later, apple was the second most valuable corporation in the world. in his best-selling biography of jobs, walter isaacson writes that he revolutionized or reimagined seven industries. he did it, isaacson says, by standing at the crossroads of science and the humanities, connecting creativity with technology, and combining leaps of imagination with fea
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ]...
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Nov 29, 2012
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citi price rewind. buy now. save later. >>> welcome back. there's a live shot of the podium in washington. we are waiting for nancy pelosi to come out to discuss her meetings today on the fiscal cliff. timothy geithner out speaking with ms. pelosi among others talking about ways these two sides can come together. as soon as nancy pelosi takes to the podium, we'll take you there live. >> eamon javers standing by there in washington. what can we expect to hear from her? all day long wae've been hearin from both party sides. i can imagine we'll hear the same thing from nancy pelosi, the minority leader in the house. >> i think you're right. obviously the democrats have been saying the republicans aren't serious. the republicans have been saying the democrats aren't serious. i've been trying to get a sense of what she might say. they're very aware the movements if the market today have been very much pegged to what these members of congress are saying. whenever whatever we hear her say, you can be very sure she's saying it intentionally and clea
citi price rewind. buy now. save later. >>> welcome back. there's a live shot of the podium in washington. we are waiting for nancy pelosi to come out to discuss her meetings today on the fiscal cliff. timothy geithner out speaking with ms. pelosi among others talking about ways these two sides can come together. as soon as nancy pelosi takes to the podium, we'll take you there live. >> eamon javers standing by there in washington. what can we expect to hear from her? all day...
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Dec 5, 2012
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citi price rewind. start saving at citi.com/pricerewind. citi price rewind. tired of fees piling up introducing chase liquid. the reloadable card with no fee reloads and withdrawals at chase atms. all for one flat monthly fee so there's zero confusion. get rid of prepaid problems. get chase liquid. >>> welcome back to "power lunch." financials strong today. in fact the banking index today at the highs of the session and they are led by stocks like bank of america. today it hits a new 52-week high. the best performer in the dow jones industrial average all year. >>> time for the power rundown. i'm joined by bob pisani and american bankers neal weinberg. apple getting hit very hard, down more than 5%. session lows this afternoon. worst day of the year. basically there is a have right of things that are floating around out there about why the stock is down. what's your take? >> my take is that this had to happen some day. whether this is the big hit or not, i don't know. as i've said for many years and heard other people say, trees don't grow to the sky. investo
citi price rewind. start saving at citi.com/pricerewind. citi price rewind. tired of fees piling up introducing chase liquid. the reloadable card with no fee reloads and withdrawals at chase atms. all for one flat monthly fee so there's zero confusion. get rid of prepaid problems. get chase liquid. >>> welcome back to "power lunch." financials strong today. in fact the banking index today at the highs of the session and they are led by stocks like bank of america. today it...
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Dec 6, 2012
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citi shares were up on that. so what do you make of ubs getting out of fixed income, citi shedding a huge chuck of jobs. >> i would actually go much further than that. we've had an a revolution. pure to pure growing at 50% per annum. i think it's time to redesign the way they do banking. some of the peer to peer lenders are ten times more efficient than banks. so there is an argument that you can do retail banking with 90% less people. it's quite a radical view, but i think that there is a huge scope for process redesign in terms of retail banking. we shouldn't be pushing bits of paper. whenever i try to make an international payment, i have to talk to-to-someone who manually puts all the numbers in to i don't know where. but it's much too cumbersome relative to what you're seeing in terms of innovation. >> i've hated my bank for sort of 30 years and i'm still there. >> they rely us on. >> accomplicomplacent banks wilt behind. or these peer to peer lenders, the whole payment space is also wide open to internet in
citi shares were up on that. so what do you make of ubs getting out of fixed income, citi shedding a huge chuck of jobs. >> i would actually go much further than that. we've had an a revolution. pure to pure growing at 50% per annum. i think it's time to redesign the way they do banking. some of the peer to peer lenders are ten times more efficient than banks. so there is an argument that you can do retail banking with 90% less people. it's quite a radical view, but i think that there is...
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Nov 29, 2012
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. here's the yahoo! finance.com poll. basically hard times for the daily deal websites groupon and living social. are you a fan? that was the question that we asked. 11% of you said yes, i check the offers daily. 19% said i used to be, but the novelty has worn off. 33% said, no, i don't find the deals a good value. 37% said i'm pretty old school. give me a paper coupon. that sound like me. >>> idc just out with is closely watched information technology trends for 2013. it is a world where companies will deploy $2 trillion on i.t. projects. microsoft and oracle and hp will probably fight for their lives and a new crop of vendors like amazon, believe it or not, will come on faster than a lamborghini. first on cnbc, idc chief analyst, frank jens. nice to
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. here's the yahoo! finance.com poll. basically hard times for the daily deal websites groupon and living social. are you a fan? that was the question that we asked. 11% of you said yes, i...
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Dec 3, 2012
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> these are your headlines. the white house and congress may need to call the auto club to jump-start budget talks. they're stalled on discussions over taxes. chinese factories have picked up the pace in november. both hsbc and the official pmi readings hit multimonth highs, both now in expanding territory. manufacturing activity continuing to shrink albeit at a lower pace. and singapore airlines is in talks to sell its stake in virgin atlantic. media reports suggest delta is the frontrunner. if you've just joined us, u.s. futures are a slightly upward start. not by much. s&p 500 currently about 1 1/2 points above fair value, nasdaq 8 1/2, dow about 17 1/2 above pair value. remember the dow down 2% over the last two months. the s&
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> these are your headlines. the white house and congress may need to call the auto club to jump-start budget talks. they're stalled on discussions over taxes....
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Dec 5, 2012
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citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this bank? i feel like they've been firing forever. citi did nothing after that great quarter. i think this may be keeping with the idea that citi is an international company. don't need as much stuff here. maybe. >> to the extent financial services are being commotitized. reflective of changes going on overall at financial services as you get out of markets that are so transparent now that you can't make the margin that you once again. therefore you have to focus on the cost size. >> i don't think people understand how much money they used to make. in a transaction you could hide gross credit. you could say you're buying this at 100 but you are getting to 98. no one is taking two anymore. those were the
citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this bank? i feel like they've been firing forever. citi did nothing after that great quarter. i think this may be keeping with the idea that citi is an international company....
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here the city is growing and there's really no area that you really can grow in the city. and that's why i think it's such an important project. because it shows new york can stay the world's greatest city. >> talk to me about the overall capacity utilization equation in new york. because uptown east side is relatively less desirable now than downtown chelsea. you're going to put a lot more capacity into the equation. what do we do with the office buildings up on the east side 3rd avenue that are half empty now? >> right now, i don't think the buildings are half empty. >> i'm nine west, it's more than half empty. >> that's because of the landlord. >> god bless him. >> that's different. people would love to be there. it's a great building, great views, other reasons why. but i think -- >> the landlord -- >> oh. >> it's incredible. the real estate market in new york is probably the best in the world, you know. owning real estate in new york, the cap rates are lower than anywhere else, maybe other than london. it's a place where people want to be. and that's what real estate'
here the city is growing and there's really no area that you really can grow in the city. and that's why i think it's such an important project. because it shows new york can stay the world's greatest city. >> talk to me about the overall capacity utilization equation in new york. because uptown east side is relatively less desirable now than downtown chelsea. you're going to put a lot more capacity into the equation. what do we do with the office buildings up on the east side 3rd avenue...
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Nov 30, 2012
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citi price rewind. buy now. save later. >>> welcome back to "squawk box" in the headlines this morning, we are about an hour away from the government's latest read on personal income and consumer spending. economists looking for income to be up .2% for october with spending up .1%. zynga's shares getting slammed in free market trading. new agreement with facebook removes zynga's special status among game developers and lets pace book develop its own games which it could not do under the old agreement. at a news conference set in missouri, one two of the winners of the record $580 million powerball drawing will be identified. the other winning ticket was sold in arizona. you about that buyer has yet to come poured. >> you don't have to agree to be identified, do you? >> no. >> no. >> biggest shock that either you or andrew didn't win. >> i know. >> i really thought this was time -- >> did you buy a ticket? >> no. >> i would pay not to buy a ticket. >> i was looking up some economic research whether your chances o
citi price rewind. buy now. save later. >>> welcome back to "squawk box" in the headlines this morning, we are about an hour away from the government's latest read on personal income and consumer spending. economists looking for income to be up .2% for october with spending up .1%. zynga's shares getting slammed in free market trading. new agreement with facebook removes zynga's special status among game developers and lets pace book develop its own games which it could not...
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citi price rewind. buy now. save later. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ >>> now the answer to today's aflac trivia question. what is the name of a popular fruit-filled hanukkah pastry made with cream cheese dough? the answer? rugalah. >> aflac. huh? >> you got comments, questions about anything you see here on "squawk," shoot us an e-mail @"squawk" cnbc.com. coming up next. your tools of the trade. we're going focus on oil and gold. "squawk's" back with that and a lot more
citi price rewind. buy now. save later. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as...
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Dec 4, 2012
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>> i have citi national. this is a boutique bank based in california making money for people. i have to find out. they have big business with the ports in california. they also are worried about the fiscal cliff. i have known russell for years. >> we'll see you tonight. >> thank you. >> 6:00 and 11:00 eastern time. the president meeting with governor this is morning about the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of america's brian moynihan told becky this morning. more "squawk on the street" in just a moment. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best v
>> i have citi national. this is a boutique bank based in california making money for people. i have to find out. they have big business with the ports in california. they also are worried about the fiscal cliff. i have known russell for years. >> we'll see you tonight. >> thank you. >> 6:00 and 11:00 eastern time. the president meeting with governor this is morning about the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of...
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Dec 3, 2012
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citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. to a world of super-connected intelligence. the potential of freescale unlocked. nyse euronext. unlocking the world's potential. to investing with knowledge. the potential of td ameritrade unlocked. nyse euronext. unlocking the world's potential. ♪ >>> do you need a car for a last-minute road trip? or are you an infrequent driver looking to rent out your road? there's an option for both with getaround. rent a car by the hour, day or week with an yul all-inclusive package that includes insurance, roadside assistance and more. it's easy to share a car a
citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. to a world of super-connected...